Vedanta, the asset 'ragbag' of the mining world
A less-than-favourable description of mining giant Vedanta in today's Financial Times may offer a useful explanation as to why it is one of the morning's biggest fallers.
A less-than-favourable description of mining giant Vedanta in today's Financial Times may offer a useful explanation as to why it is one of the morning's biggest fallers.
The FT described the stock as "a ragbag of assets, funded by a lot of debt and not a lot of their own equity," in its explanation of why the firm has continued its "dogged pursuit" of oil firm Cairn India.
The stock has lost 50% on its share price over the past year, equivalent to a whopping 1,060p.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
At 12:50PM the share price stood at 1,083p, for a loss of 2.52%.
NR
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Santander to close 95 branches across the UK putting 750 jobs at risk – full list of affected locations
Santander will cut its network to just 349 in the latest blow to high street banking. We look at a full list of 95 bank branches affected by today’s announcement.
By Daniel Hilton Published
-
Live: Bank of England expected to hold UK interest rates tomorrow
Experts are confident that UK interest rates will be held at 4.5% when the Bank of England announces its decision tomorrow
By Katie Williams Last updated